Salary Comparison and Education Level It has been stated over the years the higher one goes in education the greater the salary one can achieve. Is that Just what some people have said over the years or Is there some truth to this statement? Over the past few weeks Learning Team C has used the data sets of wages and wage earners to compare salary levels In men versus women and to compare years in education versus salary level.
Through data research Learning Team C stood on the findings that men to indeed make more than women, and that the higher the degree one obtains, the higher the salary received ND It would be financially beneficial to the Individual. This week the learning team will again look at salary and education Vial regression to compare the significance years In education has on salary level. Research Question Is there a relationship between a education level and their respective annual salary?
This study will evaluate years In education versus salary level to predict If higher education coincides with higher pay. First a scattered analysis will be preformed which will show if there is a positive or negative correlation between years in education versus salary level. Next, a regression analysis will be performed to make a prediction for the expected salary level of (x) number of years in education.
Conclusion The salary off person is dependent upon many variables. The level of education, industry, and time on the Job are some of these variables. From the test results provided by Megastar, the team determined that the coefficients were a good fit and that there were no useless predictors. With the confirmation of coefficient fit, the team evaluated the Megastar-determined p-value against the level of significance chosen (. 05). From this evaluation, the team concluded to reject the null hypothesis in favor of the alternate hypothesis. At least one of the coefficients is non zero. Team research for this paper established that no one level of education plays the sole role in determining ones salary.